A $2 billion private-equity fund that borrowed heavily to buy oil and gas wells before energy prices plunged is now worth essentially nothing, a debacle that is wiping out investments by pensions, endowments and charitable foundations.69in 5 hours

Bill Gates and Prince al-Waleed bought Four Seasons for $3.8 billion near a market peak, feuded over matters large and small, then made up. After a truce, they have been trying to whip their investment into shape.in 9 hours

Some of the toughest places to build new housing in the U.S. are older urban, low-rise neighborhoods like Venice, Calif. Brimming with affluent young residents and technology startups, Venice is one of the nation’s hottest neighborhoods, yet it hasn’t gained a single housing unit in 15 years.55in 16 hours

Millions of Venezuelans at home and abroad voted in an unauthorized referendum staged by government opponents to defy President Nicolás Maduro and his plans to rewrite the country’s constitution.in 20 hours

Condé Nast, Time, Hearst and other legacy magazine publishers are redoubling their efforts in online video are now more concerned with distributing their work on platforms like Facebook, YouTube and Snapchat.in 4 hours

The co-founder of encrypted messaging app Telegram said Sunday that it will put together a team of moderators who are familiar with Indonesia’s language and culture to remove terrorist-linked content after Indonesia’s government limited access to the service and threatened a complete ban.in 6 hours

Celebrity chef Bobby Flay said he is planning to offer shares to the public in his Bobby’s Burger Palace, a restaurant chain that competes with such burger-centric concepts as Shake Shack and Five Guys.in 20 hours

Owners of tourism-related businesses protested Minnesota’s ban on fishing for walleye, a popular sport for visitors, by circling the governor’s boat. The state says the temporary restriction is needed to protect the fish’s population.in 16 hours

The European Union is set to target 16 Syrian scientists and military officers in a new round of sanctions against the Assad regime on Monday, seeking to punish those responsible for chemical weapons attacks against civilians.in 14 hours

China’s economy steamed along strongly in the second quarter, matching the 6.9% growth rate in the first, as Beijing balances its growth objectives against the need to rein in excessive credit and an overheating property market.in 19 hours

THE OUTLOOK

President Donald Trump has looked to make protectionism respectable again, but changes in the international economy and the institutions governing trade are acting as constraints on what he can achieve.in 5 hours